SunSirs: The Price of Pure Benzene Rose Significantly This Week (January 9-13)

Price trend

According to the monitoring data of SunSirs, the trend of pure benzene this week fluctuated in a range. On January 9, the price of pure benzene was 6,850-7,050 RMB/ton (average price 6,950 RMB/ton), and on Friday (January 13), the price of pure benzene was 6,950-7,070 RMB/ton (average price 7,060 RMB/ton), up 0.31% from last week and up 1.46% from the same period last year.

Analysis review

The fundamentals of pure benzene continued to be weak, and the downstream was more wait-and-see, and the purchase intention was general; Crude oil continued to fall in the week, and the cost of pure benzene market formed a negative pressure; Downstream styrene slightly strengthened, boosting the pure benzene market.

This week, the price of Sinopec pure benzene remained stable at 6,850 RMB/ton (Shandong and Hebei adjusted 100 RMB/ton to 6,950 RMB/ton).

In terms of crude oil, this week's crude oil market was shrouded in a negative atmosphere. The market was worried that the Federal Reserve might raise interest rates aggressively, which would add to the sharp increase in the United States refined oil storage. Concerns about the future economic and demand prospects remained.

Market outlook

In terms of crude oil, the market is still worried about the global economic recession and the weakening of energy demand, and the short-term market will remain volatile. Continue to pay attention to the impact of the geopolitical situation, the latest OPEC+ production policy, the dynamics of US crude oil and refined oil storage, and the global economic situation on the price of crude oil.

The cost is weak, and the fundamentals of the pure benzene market are poor. It is expected that the pure benzene will continue to operate in a weak way in the short term. Continue to pay attention to the impact of crude oil and external market price trends, pure benzene port inventory dynamics and pure benzene and downstream device dynamics on prices.

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